2021-12-31-accounts

Trustees		Mr D Handford
		Mr D Mason
		MrJ Parry
		Mr M Rawson
		Mr R Smith
		Mr G M Wilkinson
		Mr D Bullman
		Mr D C Mander
		Mr P Rosier
Charity number		229237
Registered	office	3Mc Middlemarch		Business Park
		Siskin Drive
		Coventry
		CV3 4FJ
Auditor		Dafferns LLP
		Harry Weston Road
		Biniey Business	Park
		Coventry
		United Kingdom
		CV3 2UB
Bankers		HSBC
		55 Corporation Street
		Coventry
		CV1 1QJ
Solicitors		Mander Hadley	Limited
		Solicitors
		1 The Quadrant
		Coventry
		West Midlands
		United Kingdom
		CV1 2DW
Investment	advisors	Quilter Cheviot Ltd
		Provincial House
		37New Walk
		Leicester
		LE1 6TU
		United Kingdom

		Page
Trustees' report		1-3
Statement oftrustees'	responsibilities
Independent auditor's	report	5-7
Statement offinancial	activities
Balance sheet
Statement ofcash flows		10
Notes to the financial	statements	11-20

				Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
				funds	funds		funds	funds
			Notes	2021 K	2021 f	2021 f	2020	2020	2020
Income from:
Investments				933,769		933,769	912,806		912,806
Charitable activities			4	771,387		771,387	1,061,341		1,061,341
Net gains/(losses)		on
investments				95,270	2,754,105	2,849,3?5	(59,001)	(123,633)	(182,634)
Net movement	in	funds		257,652	2,754,105	3,011,757	(207,536)	(123,633)	(331,169)
Fund balances at 1
January 2021				1,114,783	14,835,599	15,950,382	1,322,319	14,959,232	16,281,551
Fund balances	at	31
December 2021				1,372,435	17,589,704	18,962,139	1,114,783	14,835,599	15,950,382

			2021
			6
Fhed assets
Investment properties Invrrstments		9 10	15,890,000 2,937,635		12,628,81'I 3,173,784
Current assets			'l8,827,635		15,802,595
Debtors		12	36.623	42.114
Cash at bank and in	hand		132,795	142,264
			169,418	'I84,378
Creditors: amounts	falfing due wMhln
oneyear		13	(34,914}	(36,591}
Net current asssls			134,504		147,787
Total assets less cunent liabilities			'l8,962„139		15,950.382
Capital funds
Endowment funds - general Income funds			17,589,704		14,835,599
Unrestricted funds			1,372,435		1,114,783
			18,962,139		15,950,382

			2021		2020
		Notes
Cash flows from operating	activities
Cash absorbed by operations				(767,573)		(950,017)
Investing activities
Purchase ofinvestment property			(725,491)
Purchase ofother investments			(299,393)		(183,627)
Proceeds on disposal ofother investments			849,219		262,488
Investment income received			933,769		912,806
Net cash generated from investing
activities				758,104		991,667
Net cash used in financing	activities
Net (decrease)/increase in	cash and	cash
equivalents				(9,469)		41,650
Cash and cash equivalents	at beginning	ofyear		142,264		100,614
Cash and cash equivalents	at end of	year		132,795		142,264

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	E	E
Rental income	828,842	814,516
Income from listed investments	104,293	97,457
Building leases	60	60
Acknowledgements	124	124
Interest receivable	450	649
	933,769	912,806

		2021	2020
Investment brokers		5,944	5,906
Commissions paid		73,944	72,732
Property repairs		72,353	278,350
Rates and water		12,023	4,301
Light and heat		1,511	4,012
Surveyors fees		12,490	25,760
Legal fees		(6,854)	22,509
Seniority payments		524,090	543,312
Death benefit payments			25,500
Insurance		35,633	34,173
Bad debt			40
		731,134	1,016,595
Share ofsupport costs (see note 5)		19,697	25,726
Share ofgovernance	costs (see note 5)	20,556	19,020
		771,387	1,061,341

5	Support costs
		Support	Governance	2021	Support	Governance	2020
		costs	costs		costs	costs
		f.			E
	Seniority software	360		360	360		360
	Sundry expenses				3,889		3,889
	Clerk's salary	13,680		13,680	13,680		13,680
	Legal expenses	4,248		4,248	7,073		7,073
	Bank charges	1,409		1,409	724		724
	Audit fees		6,876	6,876		5,340	5,340
	Clerk's salary		13,680	13,680		13,680	13,680
		19,697	20,556	40,253	25,726	19,020	44,746
	Analysed between
	Charitable activities	19,697	20,556	40,253	25,726	19,020	44,746

					Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
					funds	funds		funds	funds
						general			general
						2021		2020	2020	2020
						K
	Revaluation		of
	investments				95,270	218,407	313,677	(59,001)	(123,633)	(182,634)
	Revaluation		of
	investment	properties				2,535,698	2,535,698
					95,270	2,754,105	2,849,375	(59,001)	(123,633)	(182,634)
9	Investment		property
										2021
	Fair value
	At 1 January		2021							12,628,811
	Additions	through		external	acquisition					725,491
	Net gains	or	losses through		fair value adjustments					2,535,698
	At 31 December 2021									15,890,000

10	Fixed asset investments	Fixed asset investments
							Listed
							investmentsf
	Cost or valuation
	At 1 January 2021						3,173,784
	Additions						299,393
	Valuation changes						313,677
	Disposals						(849,219)
	At 31 December 2021						2,937,635
	Carrying amount
	At 31 December 2021						2,937,635
	At 31 Deceinber 2020						3,173,784
11	Financial instruments					2021	2020
	Carrying amount offinancial			assets
	Debt instruments measured		at amortised		cost	36,623	42,114
	Equity instruments measured			at fair value		2,937,635	3,173,784
	Carrying amount offinancial			liabilities
	Measured at fair value	through		profit or loss
	Measured at amortised	cost				33,560	33,565
12	Debtors
	Amounts falling due within		one year:			2021f	2020
	Other debtors					36,623	42,114
13	Creditors: amounts falling		due within one year
						2021	2020
	Other taxation and social security					1,354	3,026
	Other creditors					18,706	18,545
	Accruals and deferred	income				14,854	15,020
						34,914	36,591

15	Analysis ofnet assets	Analysis ofnet assets	between	funds
			Unrestricted		Endowment	Total	Unrestricted	Endowment	Total
				2021	2021	2021	2020	2020	2020
							F	f
	Fund balances at 31
	December	2021 are
	represented	by:
	Investment	properties			15,890,000	15,890,000		12,628,811	12,628,811
	Investments		1,23?,931		1,699,704	2,937,635	966,996	2,206,788	3,173,784
	Current assets/
	(liabilities)		134,504			134,504	147,787		147,787
			1,372,435		17,589,704	18,962,139	1,114,783	14,835,599	15,950,382

	2021	2020
	K
Within one year	392,772	356,355
Between two and five years	847,952	999,395
In over five years	2,099,154	2,273,704
	3,339,878	3,629,454

18	Cash generated	from	operations	operations			2021	2020
							E	R
	Surplus/(deficit)	for the	year				3,011,757	(331,170)
	Adjustments for:
	Investment income recognised			in statement	offinancial	activities	(933,769)	(912,806)
	Fair value gains	and losses on		investment	properties		(2,535,698)
	Fair value gains	and losses on		investments			(313,677)	182,634
	Movements in working		capital:
	Decrease in debtors						5,491	116,631
	(Decrease) in creditors						(1,677)	(5,306)
	Cash absorbed	by operations					(767,573)	(950,017)

			Ifcorrected,	adjustment
			would have	the following
			effects:
			Increase I
			(decrease)	Increase I
			Balance	(decrease)
			Sheet value	in surplus	Unadjusted
Per statutory	accounts		18,962,139	3,011,757
No unadjusted	differences	in year
			18,962,139	3,011,757

				Surplus I		Retained
				deficit	Tax	funds
Surplus Ideficit		per draft accounts		394,831		16,345,213
1	Property revaluation			2,535,698		2,535,698
2	Capitalisation	of refurbishment	costs	70,679		70,679
3	Increase in rent arrears owed			10,549		10,549
Surplus Ideficit		per statutory accounts		3„011,757		18,962,139